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REGISTERED NUMBER: 00961158 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

IFS LIMITED

IFS LIMITED (REGISTERED NUMBER: 00961158)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IFS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Dr A C Stewart
Mr D R Rainsford



SECRETARY: Dr A C Stewart



REGISTERED OFFICE: Unit 1, Cambridge House
Camboro Business Park
Oakington Road, Girton
CAMBRIDGE
Cambridgeshire
CB3 0QH



REGISTERED NUMBER: 00961158 (England and Wales)



ACCOUNTANTS: Staffords
Chartered Accountants
Unit 1, Cambridge House
Camboro Business Park
Oakington Road, Girton
CAMBRIDGE
Cambridgeshire
CB3 0QH



BANKERS: Barclays Bank plc
189 Bedford Road
Kempston
BEDFORD
MK42 8DH

IFS LIMITED (REGISTERED NUMBER: 00961158)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 1,702,984 1,517,523
1,702,984 1,517,523

CURRENT ASSETS
Investments 6 5,000 5,000
Cash at bank 541,359 827,302
546,359 832,302
CREDITORS
Amounts falling due within one year 7 418,389 412,715
NET CURRENT ASSETS 127,970 419,587
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,830,954

1,937,110

CAPITAL AND RESERVES
Called up share capital 320,000 320,000
Revaluation reserve 8 137,268 220,837
Capital redemption reserve 8 80,000 80,000
Retained earnings 8 1,293,686 1,316,273
SHAREHOLDERS' FUNDS 1,830,954 1,937,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

IFS LIMITED (REGISTERED NUMBER: 00961158)

BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





Dr A C Stewart - Director


IFS LIMITED (REGISTERED NUMBER: 00961158)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

IFS Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 7,354 24,428 31,782
DEPRECIATION
At 1 June 2022
and 31 May 2023 7,354 24,428 31,782
NET BOOK VALUE
At 31 May 2023 - - -
At 31 May 2022 - - -

5. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Shares in group undertakings 2 2
Other investments not loans 1,702,982 1,517,521
1,702,984 1,517,523

IFS LIMITED (REGISTERED NUMBER: 00961158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group Listed
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 June 2022 2 1,375,116 1,375,118
Additions - 294,713 294,713
Revaluations - (83,569 ) (83,569 )
At 31 May 2023 2 1,586,260 1,586,262
NET BOOK VALUE
At 31 May 2023 2 1,586,260 1,586,262
At 31 May 2022 2 1,375,116 1,375,118

Cost or valuation at 31 May 2023 is represented by:

Shares in
group Listed
undertakings investments Totals
£    £    £   
Valuation in 2023 - 1,586,260 1,586,260
Cost 2 - 2
2 1,586,260 1,586,262

If Fixed Asset Investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,448,992 1,154,279

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Paintings 116,722 142,405

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 5,000 5,000

IFS LIMITED (REGISTERED NUMBER: 00961158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 414,454 408,780
Accruals and deferred income 3,935 3,935
418,389 412,715

8. RESERVES
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 June 2022 1,316,273 220,837 80,000 1,617,110
Profit for the year 31,413 31,413
Dividends (54,000 ) (54,000 )
Movement on revaluation - (83,569 ) - (83,569 )
At 31 May 2023 1,293,686 137,268 80,000 1,510,954